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CONSOLIDATED BALANCE SHEETS (USD $)
Dec. 31, 2011
Dec. 31, 2010
Current Assets    
Cash and cash equivalents $ 1,896,504 $ 1,494,248
Other current assets (Note 3) 92,817 85,704
Total current assets 1,989,321 1,579,952
Property and Equipment, Net (Note 4) 82,868 57,350
Funds in Respect of Employee Rights Upon Retirement 110,310 133,335
Total assets 2,182,499 1,770,637
Current Liabilities    
Credit from banking institutions    18,843
Accounts payable (Note 5) 71,763 10,666
Other current liabilities (Note 6) 211,278 258,586
Total current liabilities 283,041 288,095
Long-Term Loans from Stockholders (Note 8) 606,144 625,881
Liability for Employee Rights Upon Retirement 241,176 258,522
Warrants with Down-Round Protection (Note 9C) 83,899   
Total liabilities 1,214,260 1,172,498
Commitments and Contingent Liabilities (Note 9)      
Stockholders' Equity (Note 10)    
Common Stock of US$ 0.001 par value ("Common Stock"): 40,000,000 shares authorized as of December 31, 2011 and 2010; issued and outstanding 5,295,543 shares and 4,844,575 shares as of December 31, 2011 and 2010, respectively 5,296 4,845
Additional paid in capital 13,457,838 10,762,892
Accumulated other comprehensive income (loss) 22,634 (16,418)
Deficit accumulated during the development stage (12,517,519) (10,153,180)
Total stockholders' equity 968,239 598,139
Total liabilities and stockholders' equity $ 2,182,499 $ 1,770,637